Equity Profile

AU

AngloGold Ashanti plc

MaterialsGold$47.9B

Aug20Mon

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

AngloGold Ashanti plc is a global gold mining company based in South Africa. As a major player in the materials sector, it plays a significant role in the gold industry, which is influenced by factors like commodity prices and global economic conditions.

Key Metrics to Watch

Gold Production

Gold production levels are crucial as they directly impact revenue and profitability.

N/A

Cost of Production

Understanding the cost of production helps gauge operational efficiency and profitability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AU Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-60.90%

Avg Stock Reaction

+3.55%

Last Quarter Recap

In Q1-2026, AngloGold Ashanti reported an EPS of $2.52, surprising analysts positively by 14%. The stock rose 6.78% the following day, indicating strong market confidence.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as there are no analyst estimates available for this quarter. Investors will be keenly watching for production and cost metrics.

Bull Case

If the company reports higher gold production and lower costs, it could lead to increased profitability and a positive market reaction.

Bear Case

Conversely, if production falls short or costs rise significantly, it could dampen investor sentiment and lead to a decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported gold production for Q2-2026?

Production levels are critical for revenue and can significantly influence stock performance.

What are the current cost trends in production?

Understanding cost trends will help assess the company's profitability and operational efficiency.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on production margins, which could lead to better-than-expected earnings.

Supporting Evidence

Recent gold price trends suggest a favorable environment for producers.

The company's operational efficiency improvements may not be fully reflected in current estimates.

Key Risk

If production costs come in lower than expected, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on production levels and cost management, which are vital for profitability.

Bull Confirmed If

Gold production exceeding 1 million ounces would confirm the bull case.

Bear Confirmed If

Production below 800,000 ounces would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.48%

Historical Avg

±4.4%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±10.5% while AU has averaged ±4.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

63.7%

Calls (178K)P/C Ratio: 0.32Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AngloGold beats expectations, history suggests a potential stock increase of around 2.86%, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further guidance.

Miss

A miss could lead to a decline, with historical data suggesting an average drop of about 1.78%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production forecasts for the upcoming quarters.
2Details on cost management strategies and their effectiveness.
3Insights into market demand for gold and pricing trends.
4Management's outlook on global economic conditions impacting the gold market.
5Any commentary on potential acquisitions or expansions.

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Company Snapshot

Key Metrics to Watch

Gold Production

Gold production levels are crucial as they directly impact revenue and profitability.

N/A

Cost of Production

Understanding the cost of production helps gauge operational efficiency and profitability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AU Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-60.90%

Avg Stock Reaction

+3.55%

Last Quarter Recap

In Q1-2026, AngloGold Ashanti reported an EPS of $2.52, surprising analysts positively by 14%. The stock rose 6.78% the following day, indicating strong market confidence.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as there are no analyst estimates available for this quarter. Investors will be keenly watching for production and cost metrics.

Bull Case

If the company reports higher gold production and lower costs, it could lead to increased profitability and a positive market reaction.

Bear Case

Conversely, if production falls short or costs rise significantly, it could dampen investor sentiment and lead to a decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported gold production for Q2-2026?

Production levels are critical for revenue and can significantly influence stock performance.

What are the current cost trends in production?

Understanding cost trends will help assess the company's profitability and operational efficiency.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on production margins, which could lead to better-than-expected earnings.

Supporting Evidence

Recent gold price trends suggest a favorable environment for producers.

The company's operational efficiency improvements may not be fully reflected in current estimates.

Key Risk

If production costs come in lower than expected, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on production levels and cost management, which are vital for profitability.

Bull Confirmed If

Gold production exceeding 1 million ounces would confirm the bull case.

Bear Confirmed If

Production below 800,000 ounces would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.48%

Historical Avg

±4.4%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±10.5% while AU has averaged ±4.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

63.7%

Calls (178K)P/C Ratio: 0.32Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AngloGold beats expectations, history suggests a potential stock increase of around 2.86%, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further guidance.

Miss

A miss could lead to a decline, with historical data suggesting an average drop of about 1.78%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production forecasts for the upcoming quarters.
2Details on cost management strategies and their effectiveness.
3Insights into market demand for gold and pricing trends.
4Management's outlook on global economic conditions impacting the gold market.
5Any commentary on potential acquisitions or expansions.